The Dow Jones Industrial Average is tumbling over 530 points on Friday, and has lost nearly 1,000 points this week, but it is still more than 630 points above its widely-watched 50-day moving average. Seen by many chart watchers as a dividing line between short-term uptrends and downtrends, currently comes in at about 25,018, according to FactSet. The last time the Dow was below its 50-day MA on an intraday basis was Sept. 8, 2017, and the last close below the 50-day MA was May 18, 2017. The S&P 500 tumbled 1.8% Friday, and has shed 3.5% this week, but at 2,772, it was still well above its 50-day MA at about 2,715. The Nasdaq Composite was down 3.0% this week at 7,277, but still above its 50-day MA at 7,069. Meanwhile, the Dow’s 200-day MA, which is used by many as a long-term trend tracker, was down at 22,703.
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From:: Stock Market News